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Bank of Canada raises key interest rate to 2.5% in its first hike since 2023
Source: CBC Politics
Date: 2026-10-28 12:33:56.0
Tags: [National, Economy, Finance, Trade, Affordability]The Bank of Canada, led by Governor Tiff Macklem, raised its benchmark overnight interest rate by 25 basis points to 2.5 per cent, marking its first rate hike since 2023. The central bank stated that the increase is necessary to curb persistent inflation—projected to remain above 3 per cent through much of 2027—which is driven largely by surging energy prices from the Middle East conflict and rising trade tensions with the United States. Policymakers warned that further rate hikes could occur depending on future economic uncertainties and cost pressures.
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Price spread between new and resale condos reveals market strength
Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-10-22 14:16:43.0
Tags: [Alberta, Housing, Affordability, Economy]A report by Real Property Solutions (RPS) indicates that the price spread between new and resale condominium units in Alberta widened from $84,000 in 2023 to $136,000 in 2025, reflecting market strength compared to tightening spreads in British Columbia and Ontario. According to Canada Mortgage and Housing Corp. statistics up to August 31, new condo development accounts for only 10 per cent of housing starts in Edmonton, while freehold ownership represents 47 per cent and rentals represent 43 per cent. Realtors Association of Edmonton statistics for September showed apartment resales down over eight per cent year over year, with an average condo price gaining 0.6 per cent to nearly $209,000, maintaining a buyer's market.
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Health care, affordability and the economy are the priorities in N.B. throne speech
Source: New Brunswick - Regional News
Date: 2026-10-20 16:31:56.0
Tags: [New Brunswick, Healthcare, Affordability, Economy, Housing, Governance]The New Brunswick government's throne speech, read by Lt.-Gov. Louise Imbeault in Fredericton, outlines priorities centered on health care, affordability, and economic growth for the coming year. Premier Susan Holt's government announced that the opening of 30 new collaborative care clinics is ahead of schedule for completion by the end of 2027, alongside plans to name a mental health advocate and launch a health and long-term care workforce strategy. Additionally, the province is creating a trade diversification plan to target high-potential export markets outside the United States and is committing increased funding toward new housing infrastructure.
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Provincial Government Issues Request for Proposals to Assess Air Affordability and Service Sustainability in Labrador
Source: Newfoundland & Labrador - Government Releases
Date: 2026-10-19 14:00:32.0
Tags: [Newfoundland and Labrador, Transportation, Affordability, Economy]The Government of Newfoundland and Labrador, through the Department of Labrador Affairs led by Minister Lela Evans, has issued a Request for Proposals (RFP) for a specialized consultant to conduct a technical and market analysis on air affordability and service sustainability in Labrador. The initiative fulfills a platform commitment to address high transportation costs and limited regional air access by engaging industry and government stakeholders, performing airfare modelling, and analyzing socio-economic impacts on remote communities. The deadline for consultant submissions is November 10, 2026, with public bids managed via MERX under procurement identifier govnl.
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Inflation rises to 3.1% in September, as fuel prices push higher: StatsCan
Source: CBC Politics
Date: 2026-10-19 12:44:28.0
Tags: [National, Economy, Affordability, Energy]Statistics Canada reported that Canada's annual inflation rate rose to 3.1 per cent in September, driven primarily by gasoline prices jumping 27.8 per cent year-over-year due to benchmark oil price increases stemming from ongoing conflict in the Middle East. Concurrently, grocery price inflation slowed to 1.7 per cent year-over-year—the smallest yearly increase since May 2024—while shelter prices rose 1.8 per cent year-over-year. Statistics Canada's core inflation measures eased slightly on a monthly basis ahead of the Bank of Canada's upcoming October 28 rate announcement.
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Ottawa considering ‘options’ as foreign home buyer ban nears end: minister
Source: Global News Politics
Date: 2026-10-07 20:34:15.0
Tags: [National, Housing, Affordability, Economy, Finance]Federal Finance Minister François-Philippe Champagne announced that the Liberal government is considering options regarding the future of the ban on foreign ownership of Canadian residential property. The restriction, originally enacted in 2022 to cool housing markets for Canadian buyers and previously extended in 2024, is scheduled to sunset in January 2027. The government's decision on whether to extend, modify, or allow the ban to expire will be evaluated based on housing stock availability and market evolution ahead of the upcoming federal budget.
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Yukon premier touts 'improved fiscal picture' in territory with budget update
Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
Date: 2026-10-05 11:00:00.0
Tags: [National, Finance, Economy, Infrastructure, Mining, Affordability]Yukon Premier and Finance Minister Currie Dixon tabled the Yukon Legislative Assembly's fall economic update and a partial capital plan for 2027, projecting a revised budget deficit of $53.7 million—down from the previously predicted $82 million. Forecasted revenues increased by $23.8 million due to higher federal transfers, taxes, and resource royalties, while projected expenditures dropped by $4.2 million, and net debt is now expected to reach $776.2 million by year-end. The 2027 capital spending plan allocates $138.8 million for the upcoming construction season, targeting projects such as the North Klondike Highway, the Shakwak corridor, the Whitehorse hospital expansion, and housing in Burwash Landing, Mayo, and Teslin. Simultaneously, the territory's economic update projects slower real GDP growth driven by lower production at the Keno Hill mine and placer gold operations, alongside elevated local inflation expected to average 4.6 per cent in 2026 due to higher shelter costs, electricity prices, and a greater reliance on heating oil.
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Ontario Protecting Workers by Raising Minimum Wage
Source: Ontario - Ministry of Labour, Immigration, Training and Skills Development
Date: 2026-10-01 14:00:00.0
Tags: [Ontario, Labour, Economy, Affordability]Effective October 1, 2026, the Ontario Ministry of Labour, Immigration, Training and Skills Development is increasing the provincial general minimum wage from $17.60 to $17.95 an hour under the Employment Standards Act, 2000. This annual 1.9 percent adjustment is tied to the Ontario Consumer Price Index (CPI) and benefits more than 700,000 workers, resulting in an estimated annual pay increase of approximately $728 for a worker employed 40 hours per week. The adjustment marks the second-highest minimum wage rate among Canadian provinces and includes parallel increases to specialized minimum wages for students, homeworkers, and hunting and fishing guides.
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Minimum wage hikes set to begin across 5 provinces
Source: Nova Scotia - Halifax & Regional News
Date: 2026-10-01 12:34:05.0
Tags: [National, Ontario, Prince Edward Island, Nova Scotia, Manitoba, Saskatchewan, Alberta, Labour, Economy, Affordability]Minimum wage increases ranging from 25 to 40 cents take effect in Ontario, Prince Edward Island, Nova Scotia, Manitoba, and Saskatchewan, bringing their respective rates to $17.95, $17.30, $17.00, $16.40, and $15.70 per hour. Ontario has tied its adjustment directly to the rising cost of living. With these changes, Alberta maintains the lowest minimum wage in the country at $15.00 an hour, having not increased it since 2019, while Nunavut leads the country at just over $20.00 an hour following an increase at the beginning of September.
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P.E.I.'s minimum wage rises 30 cents to $17.30 an hour as of Thursday
Source: Prince Edward Island - Regional News
Date: 2026-10-01 09:00:00.0
Tags: [Prince Edward Island, Labour, Economy, Affordability]The provincial government of Prince Edward Island increased the minimum wage by 30 cents to $17.30 per hour, effective as of Thursday. This adjustment follows recommendations from the P.E.I. Employment Standards Board, which reviews the rate annually. The increase forms part of an established provincial plan to raise the minimum wage further to $17.60 by April 1, 2027. Meanwhile, advocacy organizations such as the Canadian Centre for Policy Alternatives have criticized the raise as insufficient, noting that estimated living wages in the province range from over $19 to over $23 per hour based on rental and everyday living costs.
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Health, higher fuel costs drive $440.4M deficit forecast in P.E.I.'s fiscal and economic update
Source: Prince Edward Island - Regional News
Date: 2026-09-28 22:25:02.0
Tags: [Prince Edward Island, Finance, Healthcare, Economy, Affordability]The Government of Prince Edward Island, led by Finance and Affordability Minister Jill Burridge, released its first-quarter fiscal and economic update for 2026-27, projecting a deficit of $440.4 million. This represents a $30.5 million increase from the operating budget tabled in April, driven by an additional $53.4 million in spending primarily directed toward healthcare, social program funding, and higher diesel and heating fuel costs. Despite the increased deficit and spending pressures, the province reported improving economic indicators, including a 7.1 per cent year-to-date growth in labour income and retail sales, alongside a 24.6 per cent increase in housing starts.
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Competition Bureau investigates minimum advertised pricing policies in grocery sector
Source: CBC Politics
Date: 2026-09-28 15:34:28.0
Tags: [National, Economy, Affordability, Agriculture]The Competition Bureau has launched an official investigation into minimum advertised pricing (MAP) policies utilized within Canada's grocery sector. Led by interim competition commissioner Jeanne Pratt, the watchdog is examining whether these pricing rules restrict grocers from advertising their lowest prices, limit price competition, erect barriers for discount and new grocers, and facilitate price coordination among major retailers. The agency is actively soliciting evidence from industry participants and consumers to assess the impact of these pricing restrictions on food affordability and consumer choice across the food supply chain.
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Islanders will pay less at the pump starting Saturday as P.E.I. suspends provincial fuel tax
Source: Prince Edward Island - Regional News
Date: 2026-09-25 14:05:00.0
Tags: [Prince Edward Island, Taxation, Affordability, Economy, Agriculture, Transportation]The Government of Prince Edward Island announced a four-month suspension of its provincial fuel tax on gasoline and diesel, effective from September 26, 2026, until January 31, 2027. The tax break eliminates the 8.47 cents per litre tax on gasoline and the 14.15 cents per litre tax on diesel, dropping both rates to zero to provide relief amid high global oil prices. Following the suspension, from February 1 to March 31, 2027, the tax will return at half its current rate (4.24 cents per litre for gasoline and 7.08 cents per litre for diesel) before being fully restored on April 1, 2027. The policy impacts provincial revenue previously budgeted at approximately $28.2 million in gasoline-tax collection for the 2026-2027 fiscal year, compounding existing concerns over P.E.I.'s projected $410 million deficit and growing debt.
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Edmonton's housing affordability predicted to remain solid
Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-09-24 16:55:23.0
Tags: [Alberta, Municipal, Housing, Affordability, Economy, Infrastructure]According to the Fall 2026 Housing Supply Report released by the Canada Mortgage and Housing Corp. (CMHC), Edmonton's housing affordability is predicted to return to 2019 levels within 10 years, moving from an average price-to-income ratio of 30 per cent down to 25 per cent. The CMHC report highlights that Edmonton has no measurable housing supply gap, driven by a sustained average annual start pace of 15,000 units, well-supported by recent high construction levels including a record-setting 21,337 starts in 2025. Realtors Association of Edmonton statistics note that Edmonton's average home prices have increased by more than 20 per cent over the past five years, while the city continues to experience strong economic growth of about six per cent annually.
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Maximum rent increase for P.E.I. tenants set at 2.1% for 2027
Source: Prince Edward Island - Regional News
Date: 2026-09-23 23:30:00.0
Tags: [Prince Edward Island, Housing, Affordability, Economy]The Prince Edward Island Director of Residential Tenancy has set the maximum allowable annual rent increase at 2.1 percent, effective January 1, 2027. The decision followed a review of 85 submissions from landlords and tenants, balancing tenants' cost-of-living concerns against landlords' rising operational expenses, maintenance costs, property taxes, and interest rates. Under provincial law limiting maximum increases to three percent, landlords may apply to the P.E.I. Rental Office for an additional increase of up to three percent above the baseline cap, permitting a maximum possible increase of 5.1 percent in 2027. Landlords are restricted to raising rent once every 12 months and must provide tenants with three months' notice.
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Nouvelle garantie de bon fonctionnement en vigueur bientôt
Source: Quebec - Fil de presse gouvernemental
Date: 2026-09-15 09:00:00.0
Tags: [Quebec, Economy, Affordability, Justice]Beginning October 5, 2026, the Government of Quebec is implementing a new legal warranty of good working order covering 14 specific categories of household appliances and electronic devices. This statutory change mandates free repairs for these covered goods during a defined operational period, strengthening consumer protection under provincial regulations.
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Strong and Steady: Saskatchewan Maintains Top Provincial Credit Rating
Source: Saskatchewan - Government News
Date: 2026-09-14 21:00:00.0
Tags: [Saskatchewan, Finance, Taxation, Economy, Affordability]Moody's Investors Service, Morningstar DBRS, and S&P Global have affirmed Saskatchewan's top provincial credit ratings (Aa1, AA (low), and AA respectively) with stable outlooks, citing strong financial management and a manageable debt burden. Deputy Premier and Minister of Finance Jim Reiter noted that the province's economic strength supports the 2026-27 Budget, which implements the second year of a four-year provincial income tax reduction plan providing approximately $200 million in savings. Under this plan, a family of four pays no provincial income tax on their first $65,000 of income, representing the highest threshold in Canada. Furthermore, Saskatchewan projects real Gross Domestic Product growth to rank third-highest among provinces in 2026 and second-highest in 2027, alongside maintaining the second-lowest net-debt-to-GDP ratio in the country.
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Canada's inflation rate holds firm at 3% in August
Source: CBC Politics
Date: 2026-09-14 12:48:38.0
Tags: [National, Economy, Affordability]Statistics Canada reported that Canada's annual inflation rate held firm at 3.0 per cent in August, matching economists' expectations. While gasoline prices and food costs experienced a slight easing, upward pressure was sustained by increases in shelter costs (including rents and mortgage payments) and prices for travel tours. On a month-over-month basis, consumer prices fell by 0.1 per cent in August, predating subsequent increases in crude oil prices driven by Middle Eastern conflicts.
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Minister’s statement on September 2026 rental report
Source: British Columbia - Government News
Date: 2026-09-09 20:03:00.0
Tags: [British Columbia, Housing, Affordability, Economy]According to a Rentals.ca report cited by the Ministry of Housing and Municipal Affairs, average asking rents in British Columbia decreased by 4.7% overall year over year, marking 26 consecutive months of rent declines. Specific municipal purpose-built rental decreases included Abbotsford at -10.5%, Coquitlam at -6.8%, Richmond at -6.2%, and Kelowna at -5.2%, while Vancouver purpose-built rents dropped 19% from their July 2023 peak. Minister Christine Boyle attributed the downward trend to provincial housing policies such as the speculation and vacancy tax and rent-increase caps linked to inflation, which was set at 2.2% for 2027. Recent housing developments highlighted by the ministry include 20 on-reserve rental homes for Lake Babine Nation in Tachet and Wit'At, nearly 120 rental homes planned for Vancouver's Downtown Eastside, 20 complex care housing units at 1102 Glenfair Dr. in Kamloops, and 50 units of recovery-oriented housing at 250 Bryden St. in Nanaimo.
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P.E.I. consumers will pay more in wake of Canadian counter-tariffs
Source: Prince Edward Island - Regional News
Date: 2026-09-09 09:00:00.0
Tags: [Prince Edward Island, National, Trade, Economy, Industry, Affordability]Retaliatory counter-tariffs implemented by Canada on American-made products took effect, raising import prices and impacting businesses and consumers on Prince Edward Island. Sam Sanderson, executive director of the Construction Association of Prince Edward Island, noted that approximately 65 per cent of construction materials used in the province originate from the U.S. and face these tariffs, potentially increasing material costs by 20 to 50 per cent. Prime Minister Mark Carney released a video stating that Canada will respond to the ongoing trade war by reducing reliance on the United States and pursuing new international trade agreements. Meanwhile, Prince Edward Island businesses such as MacArthur's Appliances, led by owner-operator Chris Welton, are managing price hikes and noting a shift in consumer sentiment away from American-made goods. The provincial government has also rolled out $12.5 million in support for businesses affected by U.S. tariffs.
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